What is the future of the 1031 exchange and other exemptions?

[Tony Tomasek]

I am hoping to spark an intelligent discussion on the above topic. Considering the mazsive debt we are taking on as a country, I am concerned that the Real Estate tax advantages hang in the balance when it comes to the day of reckoning.

Anyone else see where that kind of money can come from? Certainly not from the disadvantaged or off the backs of the regular worker. My pessimistic side says that since I am 32 the personal homestead expemption will be done away with for anyone born after 1976, and 1031 tax exchanges will be phased out. But that is probably just paranoia.
What do you all think?